idea: potential breakout play :
look for a break above a descending trendline with increasing volume. A successful breakout and daily close above recent resistance could signal a trend reversal.
Entry: On breakout retest confirmation (support at previous resistance)
Target: 10–20% above breakout zone
Stop-loss: Below recent swing low or trendline break
Indicators to Watch:
MACD Bullish Cross: Indicates momentum shift
RSI near 70: Watch for breakout strength or potential overbought
Make sure to confirm with volume and wider market sentiment before entering.
look for a break above a descending trendline with increasing volume. A successful breakout and daily close above recent resistance could signal a trend reversal.
Entry: On breakout retest confirmation (support at previous resistance)
Target: 10–20% above breakout zone
Stop-loss: Below recent swing low or trendline break
Indicators to Watch:
MACD Bullish Cross: Indicates momentum shift
RSI near 70: Watch for breakout strength or potential overbought
Make sure to confirm with volume and wider market sentiment before entering.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.